The marketââ,¬â"¢s amazing resilience continued today, as a morning sell-off held support once again, and the indices rallied for the rest of the session, closing near the highs for the day going away, at new all-time highs on the Dow, new 5 Ã,½-year highs on the S&P and new 6-month highs on the NDX.

The day started out with a gap up.  But they sold off quickly in two separate moves that held secondary minor support.  The indices then turned around and began a very steady rally that lasted until about an hour to go when they backed off again, but rekindled the rise late in the session.

The Dow was up 29 points, the S&P 500 6.86, the Nasdaq 100 17.31 and the Philadelphia Semiconductor Index (SOXX) 5.28.

The technicals confirmed the gains, and were positive by 11 to 5 on New York and a little more than 2 to 1 on Nasdaq on advance-declines.    Up/down volume was even better, a little less than 2 to 1 positive on New York with a total of 1.7 billion traded.  Nasdaq traded a whopping 2.3 billion, with a 2 Ã,½ to 1 positive plurality.

TheTechTrader.com board  was mixed but mostly higher, led today by two lower-priced issues.  One of our portfolio positions VASCO Data Security (VDSI) leapt 1.40, closing at 12.04, a penny off the high for the day on more than 2 million shares, looking like a key breakout there.

Harmonic Inc. (HLIT), after excellent earnings and an upgrade, gained 1.47 on 6 Ã,¾ million, closing a few cents off the high as well.

Other stocks of note, U.S. Global Investors (GROW) advanced 99 cents, Broadcom (BRCM) 91 cents, and Fuel Tech (FTEK) moved to a new all time high, up 50 cents to 20.42.  China Medical (CMED), one of our recent Charts of the Week, was up 71 cents.  Apple Computer (AAPL) tagged a new 9-month high today, closing up 51 cents.  OSIS was up 46 cents, Pacific Ethanol (PEIX) 44 cents, and Radio Shack(RSH) up 40 cents.

On the downside, there was just one point-plus loser.  NVE Corp. (NVEC)  dropped 1.62, paring back its recent gains.  Lumera (LMRA) gave back another 55 cents, continuing its pullback.  Energy Conversion Devices (ENER) dropped 36 cents, DXP Enterprises (DXPE) 31 cents.  All other stocks that were down were down only small fractions.

Stepping back and reviewing the hourly chart patterns, as indicated the indices went to new multi-month and multi-year highs and closed near the highs for the day going away. The market continues to climb a wall of worry and confound the shorts.

Until we turn around and take out some key support, the market may not only trend higher but could even accelerate to a parabolic high at some point.

Harry Boxer is a technical consultant to many Wall Street hedge funds and large institutional traders, and author of TheTechTrader.com, a real-time diary of his day, swing and intermediate-term trades. For more of Harry Boxer, sign up for a free 15-day trial to his Real-Time Technical Trading Diary, or sign up for a free 30-day trial to his Top Charts of the Week service.